Seasoned traders recommend scaling in before potential central bank announcements that could move markets. Trading at $3825.41 per troy ounce in today’s session, up a remarkable +1.74%, gold (XAU/USD) has once again renewed all-time highs, further extending yearly gains. Recent survey data from the World Gold Council supports this view, Thomas adds. Some 95% of surveyed central banks expect global gold holdings to increase in the next 12 months, with none anticipating a decrease. The current gold price forecast remains constructive, with capital flows into defensive assets increasing. Analysts suggest watching CPI reports closely as potential catalysts for the next leg higher.
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